How Twitter CEO Jack Dorsey Became Part Of The Bitcoin Lightning Network Torch #LNTrustChain
Twitter CEO Jack Dorsey Becomes Part Of The #LNTrustChain
After BTC’s second-layer scaling protocol gained in popularity over the past few weeks due to its quality as a solution to BTC’s scalability issues, a community-driven Twitter experiment came to fruition. The experiment on the Lightening Network and called the #LNTrustchain shows just how powerful the lightening network can be. Someone on the network will send a small amount of bitcoin to another person. Each participant receives the full amount of the torch, plus they add an additional 10 Satoshi. The chain then designated another person and as a result, the “trust chain” becomes longer. The trust chain has become so popular that it even has its own website.
One of the most surprising participants in the trust chain was Twitter CEO Jack Dorsey. He tweeted about his participation, stating “Cool example of #BitcoinTwitter experimenting on the Lightning Network. Torch Received, now passing along to @starkness! #LNtrustchain.” As users can tell, the process of being a part of the trust chain is simple – one simply needs to be designated in a tweet as the next recipient. It will certainly be interesting to see what other notable individuals become a part of this neat experiment.
The project began on January 19 with an announcement by Hodlonaut, a bitcoin enthusiast. Hodlonaut announced that he or she was willing to use the LN to pass on 100,000 Satoshis, which is the smallest unit of bitcoin. Over time, the project gained in popularity and many got involved.
As Hodlonaut explained to CoinTelegraph through Twitter DM,
“The experiment got traction pretty fast among my little twitter bubble. First 100 passes took less than a week. I think the busiest day may actually have been the first day, January 19, with more than 20 passes. The pace of passing has decreased with time, mainly because people are trying to make passes to specific people instead of just sending to one of the invoices sent to them on twitter.”
To date, the torch has been passed by over 240 people who reside in 52 different countries. The widespread nature of the project shows just how involved the cryptocurrency community is and it also highlights the power of social media in getting the word out on bitcoin.
As Hodlonaut added,
“I was curious to see how far something like that could go. Didn’t expect it to last very long or get much attention . . . So the @jack thing was pretty mindblowing.” It sure was.